Fintech: Search for a super-algo

Investment groups race to create a thinking, trading computer. But will AI machines become the Warren Buffetts of the future? Nearly three decades ago, Warren Buffett penned an annual letter to his adoring investors mocking an insidious new trend beginning to make its mark in the money management industry: the computer. “In my opinion, investment success will not be produced by arcane formulas, computer programs or signals flashed by the price behaviour of stocks and markets,” he scoffed in his 1987 annual letter. But the chairman of Berkshire Hathaway, famous for his long-term strategic thinking, may have short-changed one of the great forces reshaping investment. Gargantuan strides in computing power have revolutionised virtually every facet of modern life, and financial markets are no exception. The most successful hedge funds on…


Link to Full Article: Fintech: Search for a super-algo